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City treasurer to retire; council hears early FY25 financial update showing timing variance
Summary
Mayor announced the city treasurer will retire at year‑end; staff reported early FY25 results showing a negative timing variance in revenues (about $120,000) and a positive expenditure variance of approximately $660,000, driven by timing of insurance and payroll payments.
Mayor announced that the city treasurer is retiring at the end of the year and asked residents to consider volunteering for the city treasurer role; the council plans to publicize the volunteer opportunity.
A staff presenter delivering the first official fiscal‑year 2025 report said the city budgeted anticipated permit and fee revenue across 12 months and that, to date, receipt timing has produced a shortfall: "we received 711, so that's a negative $120,000 variance," the presenter said on the record (staff described the figure as a timing issue tied to large permitted projects not yet received). On expenditures, staff reported a positive variance (budgeted $4,220,000 vs. $1,360,000 spent so far — a variance described as approximately $660,000) and said some large outlays, including insurance payments, will appear in next month's report.
Council had no substantial questions and closed the item; staff said timing and accounting treatments (split payrolls, invoice timing) should normalize through the fiscal year.
